Walgreens NNN
For Sale
Contact for pricing
1080 SW FIRST AVE, Canby, OR 97013
Absolute net lease includes renewal options, scheduled rent increases, and no landlord responsibilities.
Property Size14,745 SF
Lot Size1.39 Acres
Price / SF$321.63
Days on Market9
Property Features for 1080 SW FIRST AVE
General Information
Standard status
Active
Size
14,745 SF
Lot size
1.39 Acres
Property subtype
Retail
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$296,400
Site & Location
Corner Location
Yes
Traffic Count
33,047 vehicles/day
Building Details
Buildings
1
Units
1
Tenancy
Single
Listing Agency:
Colliers - Los Angeles - Orange County, California
(949) 724-5561
Listed By:
Eric Carlton · License #CA 01809955
Source:
Crexi
Added: Jul 28
Changed: Aug 5
Last Checked: Aug 5 at 4:43AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Colliers - Los Angeles - Orange County, California
Investment Insights
Based on property information with market context.
This 14,745-square-foot Walgreens property occupies a 1.39-acre parcel and is subject to an absolute NNN lease. The primary lease term has more than 11.5 years remaining, followed by twelve 5-year options. Contractual rent increases occur at 5-year intervals, while the lease assigns no landlord responsibilities. The asset is offered for sale and combines an established pharmacy occupant with a long-duration lease structure.
The property sits at the signalized corner of SW 1st Avenue, also identified as Pacific Highway E, and Berg Parkway in Canby, Oregon. The intersection records a combined traffic count exceeding 33,047 VPD. It is located within the Portland/Vancouver/Hillsboro MSA, whose population exceeds 2.54 million. Nearby retail and service businesses include Fred Meyer, Grocery Outlet, 7-Eleven, Dollar Tree, Wells Fargo Bank, U.S. Bank, AutoZone, O’Reilly Auto Parts, McDonald’s, Chipotle, Starbucks, Dutch Bros, Taco Bell, and Panda Express.
The property sits at the signalized corner of SW 1st Avenue, also identified as Pacific Highway E, and Berg Parkway in Canby, Oregon. The intersection records a combined traffic count exceeding 33,047 VPD. It is located within the Portland/Vancouver/Hillsboro MSA, whose population exceeds 2.54 million. Nearby retail and service businesses include Fred Meyer, Grocery Outlet, 7-Eleven, Dollar Tree, Wells Fargo Bank, U.S. Bank, AutoZone, O’Reilly Auto Parts, McDonald’s, Chipotle, Starbucks, Dutch Bros, Taco Bell, and Panda Express.
Key Highlights
- 14,745 SF Walgreens building on a 1.39‑acre parcel
- Absolute NNN lease with zero landlord responsibilities
- More than 11.5 years remaining in the primary lease period
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $316.7k | $21.48 |
| − Vacancy | −$23.8k | −$1.61 |
| EGI | $293.0k | $19.87 |
| − OpEx | −$87.9k | −$5.96 |
| NOI | $205.1k | $13.91 |
14,745 SF · lease $21.48/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.93M
$2.56M – $3.42M
NOI $205,078 @ 7.0% cap · market cap 4.32%
Second Best
Specialty Retail
$2.63M
$2.30M – $3.07M
NOI $184,128 @ 7.0% cap · market cap 3.88%
Theoretical Best
Office A
$3.98M
$3.48M – $4.64M
NOI $278,603 @ 7.0% cap · market cap 5.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
33,047 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
730
Businesses Nearby
213k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 49%
Shops & Services 16%
Groceries 14%
Apparel 9%
Safeway
Groceries
29,316 visits/mo
0.2 miles
McDonald's
Dining
24,323 visits/mo
0.3 miles
Marshalls
Apparel
19,953 visits/mo
0.2 miles
Dutch Bros. Coffee
Dining
17,541 visits/mo
0.1 miles
Burgerville
Dining
13,073 visits/mo
0.1 miles
Demographics for 97013, OR
24,512
Population
9,152
Households
2.7
Avg Household Size
41
Median Age
30%
College-Educated
88%
High-School Grad
58.9 sq mi
ZIP Area
416
Density / Sq Mi
$99,343
Median Household Income
$49,207
Median Earnings
$1,439
Median Rent
$509,100
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Absolute net lease includes renewal options, scheduled rent increases, and no landlord responsibilities.
Where is this nnn property located?
The property is located at 1080 SW FIRST AVE Canby, OR.
What is the asking price?
The asking price for this property is $4,742,400.
What are key features of this property?
This property features: 14,745 SF Walgreens building on a 1.39‑acre parcel; Absolute NNN lease with zero landlord responsibilities; More than 11.5 years remaining in the primary lease period
